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Like a loyalty card. “Free x for every x number of checkins.”
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As a bonus or upgrade. “Free x everytime you checkin on Foursquare.” Think: free valet or free coatcheck.
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As a way to boost foot traffic on slow days. “40% off on Wednesdays when you check in on Foursquare!”
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As an incentive to first-time visitors. “Free x the first time you checkin.”
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As an incentive for repeat visitors. “The Mayor (the person with the most checkins in the last 3 month period) gets free x.”
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As an incentive for bringing friends. “Free x if you checkin with more than 3 people.”
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As a vehicle to give out something unique. “Limited edition x if you checkin on Foursquare!”
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As an added value for your sponsors. Having a conference? Offer attendees the ability to check in at each of your sponsor’s businesses to get half off their admission fee. In media? Offer swag if people check-in at the place of your live remote, your #1 advertiser, etc.